Otmane El Rhazi : Prices, expenses drive 48% dip in Merafe H1 earnings

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Black-managed Merafe Resources is bracing for an up to 48% slump in basic earnings per share (BEPS) for the six months ended June 30, informing the market on Monday that the decrease in net ferrochrome prices and an increase in expenses was expected to narrow BEPS from 9c apiece in the first half of the prior year to between 4.7c and 5.3c in the six months under review. Similarly, headline earnings a share were expected to drop by between 40% and 47% to between 4.7c and 5.3c in the first half of this year.